Loan Officer Randy
Loan OfficerForum Replies Created
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UWM does the One-Time Close Construction
I will ask my wholesale rep on the minimum loan amount and investment property. I know they do a 5% down payment One-time Close Construction loans for primary homes.
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From my understanding, the builder had to built a few houses and/or done major renovation projects in the past three years. You cannot be a builder who built homes 20 years ago and are just opening shop
Every lender has their own requirements of home builders.
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I want to share an informative guide i use as a reference guide that has helped me to use it as a checklist. MLOs need to realize that the processor needs to be extremely careful of not submitting documents that is not required or not asked for by the underwriter. The big reason is a mortgage underwriter cannot UNSEE WHAT THEY SAW.
https://gustancho.com/documents-required-for-mortgage/
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This reply was modified 3 days, 21 hours ago by
Sapna Sharma.
gustancho.com
Documents Required For Mortgage Processing and Underwriting
All documents required for mortgage processing and underwriting needs to be complete including blank pages to avoid delays in CTC.
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This reply was modified 3 days, 21 hours ago by
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Condominium sales nationwide are plummeting. Condi sales were skyrocketing over the years. Many first time homebuyers, seniors, and homebuyers who couldn’t afford single family homes were the ideal condo buyers. Prices of condominiums in Florida are down to 2008 prices. Deferred maintenance on condos is hurting condominium owners with the huge increase of HOA dues and the big jump on property taxes
Many seniors who own condos cannot afford such a huge increase of HOA and property taxes. Please watch the attached video short by Michael Bordernado about why thousands of condos are not selling ans just sitting.
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I just don’t understand all this red tape to become a NMLS licensed Mortgage Broker. Mortgage Brokers are not lenders and are the go between the consumer and the actual wholesale Mortgage Lender. Can you please explain what a surety bond is and how this process of applying for a surety bond works? What is the net worth requirement for and why are they asking for a qualified individual or control persons net worth? Why is it something states require net worth and others don’t. Thank you in advance
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The mid-term primary in Texas was absolutely 💯 amazing. Ken Paxton won the Republican Senate Primary over incumbent Republican Senator John Cornin by a 90% landslide. Amazing the millions of dollars Cornin spent on his campaign and lose by such an amazing margin. Former President George W. Bush and Senate Republican Leader John Thune were big supporters of Senator John Cornin. On the Democrat side, Congressman Al Green a Trump critic and impeachment judge lost the Democrat Primary Congressional Seat. Attached is a message posted by President Donald Trump. Trump endorsed and supported Ken Paxton for U.S. Senate. Paxton had a press conference thanking President Trump for his support and endorsement and appreciation
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The foreclosure dam on the U.S. housing market is finally starting to break.
According to the Wall Street Journal, foreclosure filings just surged to a 6-year high and are now up 26% year-over-year. After years of foreclosure bans, mortgage forbearance, and government intervention delaying the process, distressed homes are finally starting to hit the market again.
In this video, I break down:
• Why foreclosures are suddenly surging
• Which states are seeing the biggest spike
• Why home prices could face a new wave of pressure
• The real impact of distressed inventory on nearby home values
• A foreclosure example where a DR Horton home sold for a $125,000 lossThe reality is that many buyers who purchased homes at peak prices with high mortgage rates during the last 4 years are now struggling to make payments. And as foreclosures rise, the housing market could enter an entirely new phase.
In this video, I show you a house that Fannie Mae has foreclosed on in Spring Hill, TN. The previous owner bought it was $750k, and had a mortgage north of $700k. They couldn’t afford the payments, went into default, and Fannie took the property in foreclosure.
This is happening more and more in the 2026 housing market, especially as home values drop in certain states like Tennessee, Texas, Florida, and Colorado (based on Zillow’s home value estimate).
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Kash Patel PANICS After FBI Leak EXPLOSION Rocks TRUMP Administration!
The FBI is in chaos — and according to explosive new reporting, Director Kash Patel is now in full panic mode.
Reports from major outlets say Patel ordered polygraph tests for dozens of current and former FBI personnel as he desperately searches for “leakers” inside the bureau. But these were not investigations into foreign spies or classified intelligence breaches. According to the reporting, agents and staff were allegedly questioned over whether they had spoken negatively about Patel himself.
In this video, we break down the growing crisis inside the FBI, including allegations that Patel has isolated himself from senior operational leadership, skipped critical briefings, and launched aggressive leak investigations after damaging reports about his conduct surfaced in the media. We also examine the alarming claims reported by journalists including Carol Leonnig and others regarding Patel’s alleged drinking, retaliation against reporters, and use of polygraphs as an intimidation tactic.
This is not normal leadership behavior for the director of the FBI. Former officials and reporters familiar with bureau operations describe these actions as extraordinarily rare and deeply concerning for an agency responsible for counterterrorism, national security, cybercrime investigations, and federal law enforcement across the United States.
We also cover: The Atlantic’s explosive reporting on Patel’s leadership.
The alleged criminal leak investigations targeting journalists.
Claims about repeated polygraph use inside the bureau.
Why current and former FBI personnel are sounding the alarm.
How this impacts trust in America’s top law enforcement agency.
If you care about accountability, democracy, press freedom, and protecting the integrity of federal law enforcement, this story matters.
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https://youtu.be/ixCqNCmjzRE?si=ycCLzt-oNvcfyf6V
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This reply was modified 2 weeks, 3 days ago by Randy.
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This reply was modified 2 weeks, 3 days ago by
Gustan Cho.
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This reply was modified 2 weeks, 3 days ago by
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Attached is an extremely comprehensive informative easy to navigate and understand on becoming a brand spanking new NMLS licensed mortgage loan originator.
https://gcaforums.com/career-opportunities-for-new-mlo-without-experience/